Current location:politics >>
US Postal Service seeks to hike stamp prices to 73 cents
politics35People have gathered around
IntroductionWashington —The United States Postal Service (USPS) said on Tuesday it wants to raise the price of f ...
The United States Postal Service (USPS) said on Tuesday it wants to raise the price of first-class mail stamps to 73 cents from 68 cents effective July 14.
The proposal, which must be approved by the Postal Regulatory Commission, would raise mailing services product prices by 7.8%.
USPS in November reported a $6.5 billion net loss for the 12 months ending Sept. 30 as first-class mail fell to the lowest volume since 1968. Stamp prices are up 36% over the last four years since early 2019 when they were 50 cents.
USPS has been aggressively hiking stamp prices and is in the middle of a 10-year restructuring plan announced in 2021 that aims to eliminate $160 billion in predicted losses over the next decade and had previously forecast 2023 as a breakeven year.
USPS has been raising stamp prices twice yearly and has said it expects its "new pricing policy to generate $44 billion in additional revenue" by 2031.
A number of lawmakers have raised concerns about USPS planned changes to its processing and delivery network that could impact timely deliveries.
First-class mail volume fell 6.1% in the 12 months ending Sept. 30, 2023, to 46 billion pieces and is down 53% since 2006 -- to the lowest volume since 1968 -- but revenue increased by $515 million because of higher stamp prices.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Stellar Stories news portal”。http://chile.soorot.com/article-58b099932.html
Related articles
Shooting injures 2 at Missouri high school graduation ceremony
politicsCAPE GIRARDEAU, Mo. (AP) — Two people were injured when gunfire broke out during a high school gradu ...
【politics】
Read moreCrown Prince Hussein and Princess Rajwa of Jordan announce they are expecting a baby this summer
politicsCrown Prince Hussein of Jordan and his wife Princess Rajwa are expecting their first baby this summe ...
【politics】
Read moreWeather: Heavy rain warnings for Westland, Fiordland, Otago headwaters from Tuesday
politics(File photo) Photo: RNZ / Tess Brunton ...
【politics】
Read more
Popular articles
- Investigators return to Long Island home of Gilgo Beach serial killing suspect
- A quiet birthday for Meghan's former best
- Kings and royal princes were the rock stars of their day
- What would open warfare between Israel and Iran look like? How tit
- I was 'brokefished' by my friend for £400
- China jails Canadian tycoon Xiao Jianhua for 13 years for finance crimes
Latest articles
Philippines blames China for loss of giant clams in disputed shoal and urges environmental inquiry
RICHARD EDEN: Revealed
JAN MOIR: Why JK Rowling SHOULDN'T forgive the weaselly band
British POW who was tortured with electric shocks, beaten and starved by Putin's troops in five
French sports minister calls for sanctions after Monaco player tapes over anti
'The King and Prince William now face a serious problem'
LINKS
- Foldable phones surge in popularity amid stagnant market
- China, Arab countries agree to enhance cooperation
- Xi Urges All
- China, Thailand enter 'visa
- Top of Eiffel Tower reopens to public
- Highlights of Xi Jinping's Visit to Vietnam
- Spotlight: U.S. authorities tell int'l students to leave U.S. if universities go online
- NYC paints Black Lives Matter mural in front of Trump Tower
- NYC paints Black Lives Matter mural in front of Trump Tower
- China, Arab countries agree to enhance cooperation